The global blackstrap molasses market size was estimated to be worth around US$ 13 Billion in 2020 and is forecast to grow at a CAGR of around 5.68% between 2022 and 2032, surpassing US$ 18.2 Billion by 2027. Rising adoption of blackstrap molasses in a multitude of end use applications due to its various health benefits is a major force behind the expansion of the global blackstrap molasses market.
Blackstrap Molasses Market: Regional Analysis
The influence of western culture, changing lifestyle, increase in disposable income, etc. are some of the drivers for the increase in the demand for bakery products in the Asia-Pacific region. Thus, the rise in consumption of bakery products is expected to increase the demand for blackstrap molasses as it is used in the preparation of various bakery products and at the same time provides various health benefits. Thus, the blackstrap molasses market is estimated to grow at a high rate in the Asia-Pacific region.
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The Increase in Health-awareness Serve as a Driver for Blackstrap Molasses Market
Due to hectic lifestyle, increase in the number of working women, economic feasibility, etc. the demand for ready-to-eat products is increasing. The consumer preference for convenience is increasing, and thus, the demand for bakery products is increasing at a high rate all across the globe which is estimated to boost the blackstrap molasses market.
Blackstrap molasses is used while preparing a variety of bakery products such as muffins, cookies, bread, cakes, etc., and therefore, the increase in demand for bakery products is expected to have a positive impact on the blackstrap molasses market.
In recent years, health awareness is increasing among the consumers, and thus, prefer to use products that have high nutritional value. Therefore, the companies are trying to develop new innovative products that provide various health benefits. Thus, the use of blackstrap molasses serves as a suitable option as it is rich in vitamins, minerals, etc. and has a low glycemic index. The manufacturers of food and beverage industry can develop innovative and healthy products to attract health-conscious consumers.
The rise in awareness among consumers has increased the demand for dietary supplements, and is anticipated to serve as a driver for the blackstrap molasses market. Blackstrap molasses has antioxidant and anti-inflammatory properties which provide various health benefits. Blackstrap molasses is a rich source of iron that helps to maintain the hemoglobin level. It contains several minerals and vitamins that provide various health benefits.
Blackstrap Molasses Market: Key Participants
Some of the market participants in the Blackstrap Molasses market are:
- ASR Group
- Allied Old English, Inc.
- Imperial Sugar Company
- Crosby Molasses Co Ltd.
- B&G Foods, Inc.
- Sweet Harvest Foods Inc
- Meridian Foods Limited
- Zook Molasses Company
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The research report presents a comprehensive assessment of the blackstrap molasses market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply and Demand
- Current Trends/Issues/Challenges pertaining to blackstrap molasses Market
- Competition Landscape and Emerging Market Participants in blackstrap molasses market
- Technology related to Production/Processing of blackstrap molasses
- Value Chain Analysis of the blackstrap molasses Market
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Blackstrap Molasses Market Segmentation
The Blackstrap Molasses market can be segmented on the basis of nature, end use and distribution channel:
On the basis of nature, the Blackstrap Molasses market can be segmented as:
- Organic
- Conventional
On the basis of end use, the Blackstrap Molasses market can be segmented as:
- Food and Beverage Processing
- Bakery and Confectionery products
- Breakfast solutions
- Desserts and Puddings
- Other Food and Beverage Processing
- Functional Foods and Dietary Supplements
- Foodservice/HoReCa (Hotels/Restaurants/Café)
- Household
- Others (e.g. Animal Feed Industry, etc.)
On the basis of the distribution channel, the coconut cream market is segmented into-
- Direct Sales/B2B
- Indirect Sales/B2C
- Hypermarkets/ Supermarkets
- Convenience Stores
- Mass Grocery Retailers
- Specialty Stores
- Online Retailing
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Report Highlights:
- Detailed overview of parent market
- Changing dynamics of the blackstrap molasses market in the industry
- In-depth market segmentation and analysis
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments in the blackstrap molasses market
- Competitive landscape of the blackstrap molasses market
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on blackstrap molasses market performance
- Must-have information for blackstrap molasses market players to sustain and enhance their market footprint.
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